Workhorse Group (WKHS) Stock Sinks As Market Gains: What You Should Know
Workhorse Group (WKHS) closed at $7.52 in the latest trading session, marking a -0.66% move from the prior day. This change lagged the S&P 500's 0.15% gain on the day.
Coming into today, shares of the truck and drone manufacturer had lost 19.55% in the past month. In that same time, the Auto-Tires-Trucks sector gained 4.96%, while the S&P 500 lost 0.58%.
Wall Street will be looking for positivity from WKHS as it approaches its next earnings report date. On that day, WKHS is projected to report earnings of -$0.20 per share, which would represent year-over-year growth of 74.36%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.7 million, up 198.25% from the year-ago period.
WKHS's full-year Zacks Consensus Estimates are calling for earnings of -$1.73 per share and revenue of $5.43 million. These results would represent year-over-year changes of -347.14% and +289.63%, respectively.
Any recent changes to analyst estimates for WKHS should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. WKHS is holding a Zacks Rank of #4 (Sell) right now.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 203, which puts it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow WKHS in the coming trading sessions, be sure to utilize Zacks.com.
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